Islamabad, Oct 9: The agreements were signed between Pakistan and Saudi Arabia worth $2 billion said PM Shehbaz on Tuesday.
The federal government plans to ink around 30 investment deals with the Saudi delegation, which is starting its Pakistan visit today, as said by Commerce Ministry source.
These pacts will cover sectors that include farming, information technology, construction materials, petroleum products, and energy.
The delegation will also discuss the food security crisis, export of meat and export of Pakistani rice. Informed sources said that the existing deals related to mining, oil refineries, as well as railways, will be reviewed with the Saudi counterpart.
This was underscored by Prime Minister of Pakistan, Nawaz Sharif who said this during a press conference,
“The agreement signed between Pakistan and Saudi Arabia will be a foundation towards mutual development.
He said, while our two nations have enjoyed friendly relations over many years, this very deal will serve to cementfriendly relations even further.
Pakistan Saudi Arabia deal that has signed an agreement to invest over $ 5 billion in Pakistan before 2027 and Earlier Pakistan and Saudi Arabia signed an investment agreement $ 2 billion. 30 investment pacts with the Saudi delegation, which is commencing its visit to Pakistan today, according to sources from the Commerce Ministry.
These pacts will encompass areas such as agriculture, information technology, construction materials, petroleum, and energy.
The delegation will also address issues related to food security, meat exports, and the export of Pakistani rice. Sources indicated that current agreements concerning mining, oil refineries, and railways will be evaluated with Saudi partners.
During a recent press conference, Prime Minister Sharif emphasized the importance of this stating, “The Pakistan Saudi Arabia agreement will pave the way for mutual growth and development.
Our nations share a longstanding friendship, and this agreement reflects our commitment to strengthening that bond.”.
Pakistan Saudi Arabia agreement to invest more than $5 billion in Pakistan by 2027, with an initial investment agreement of $2 billion.
This will involve the Saudi private sector contributed to $ 1 billion in the initial stage. Local executives are also planned to be appointed in Saudi enterprises to increase the volume of investments, in Pakistan.
